Gramm Leach Bliley Act and Paper Shredders

The Gramm Leach Bliley Act of 1999 also known as the Financial Services Modernization Act was passed by the Senate Banking Committee on March 4, 1999.  The act touched upon many facets of the financial services industry, from the operating of subsidiaries, competition protection rules, dispute resolution processes and federal home loan bank reforms among a host of other enactments. With regard to paper shredders, the Graham Leach Bliley or GLB Act set forth penalties for improper disposal practices, which has spurred the sales of shredders throughout the country. The Safeguards Rule of the GLB Act applies not only to large financial institutions, but also to any business that is significantly involved with financial services or products.  This includes, but is not limited to tax preparers, real estate appraisers, mortgage companies, check cashing companies, lenders and anyone who offers loans or credit cards.

Much like the FTC Disposal Rule, the GLB Act requires that all records with private consumer information, be destroyed, whether by incineration or by paper shredders.  Some companies opt to use a local shredder service, while others install centralized paper shredder equipment to have complete control over their information.  Similarly, financial service companies must verify that all digital equipment including computers, disks, and other digital media are completely erased before they are discarded.  For this reason, financial service companies should look into purchasing a pc file shredder to make sure that their hard drives are completely erased. 

 or priFounded in 1955 and located in Alexandria, Virginia, ASIS International is the largest international organization for security professionals.  Its 33,000 members are primarily security managers or directors of security, but with the growing focus on security related issues, many corporate professionals of all types including accountants, attorneys, consultants, and law enforcement are becoming involved with ASIS to help them secure their businesses and business information.  ASIS International is involved with the whole of security, of which paper shredders and shedding technology is a small part.

ASIS International has established a wide variety educational materials as well as seminars, and training to help keep security professionals up to date with the latest regulations and legislation in the security fields, including  a focus on new technologies and innovation.  Their magazine, Security Management, is one of the most highly regarded publications in the industry.  with 33,000 members, 204 chapters worldwide, and more than 70 full time staff members, this organization is one of the best resources for security professionals, whether they are corporations, or business directly related to security concerns like the paper shredder or mobile paper shredding industry.

Members of this fine organization receive the bi-monthly publication, Security Management, receive discounts on seminars and educational resources, and help support the advocacy work that ASIS performs on behalf of the security industry with government agencies, businesses and the media.  For more information on this great organization go to ASIS International

Established in 1955, ARMA International is a non-profit organization dealing with the management of records and information, both paper and electronic.  ARMA was once the acronym for the Association of Records Managers and Administrators, but as records managers have become a part of a larger whole of information management, the acronym ceased to be used in favor of the name ARMA International, which is broader in scope.  ARMA is probably best know for its professional journal called The Information Management Journal, which is published on a bi-monthly basis, providing news, products and information relating to managing information.  The journal has featured many types of paper shredders, and is a leading source of information on the advancements of information disposal methods such as crosscut paper shredders and pc file shredders. 

ARMA offers updated news and analysis, online educational resources including web training, and legislative updates in the field of information management.  The organization has over 10,000 members throughout the world in fields of business such as records managers, educators, legal practitioners, archivist, corporate library administers, and IT managers.  Materials are available with respect to paper shredder for businesses as well as information on mobile paper shredders and large scale centralized paper shredders.

ARMA International is headquartered in Lenexa, KS and can be contacted by the following link: ARMA International